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Share-Based Compensation (Tables) | 9 Months Ended
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Sep. 30, 2022
Share-Based Payment Arrangement [Abstract] |
Share-Based Payment Arrangement, Expensed and Capitalized, Amount | Share-based compensation expense related to the issuance of stock options was as follows for the three and nine months ended September 30, 2022 and 2021:
| Three months ended September 30, |  | Nine months ended September 30,
| 2022 |  | 2021 |  | 2022 |  | 2021
Research and development | $ | 14,349 |  |  | $ | 17,775 |  |  | $ | 74,256 |  |  | $ | 56,677 |
General and administrative | 262,172 |  |  | 133,300 |  |  | 658,547 |  |  | 224,049 |
| $ | 276,521 |  |  | $ | 151,075 |  |  | $ | 732,803 |  |  | $ | 280,726 |
Schedule of Assumptions Used to Determine Fair Value of Share-Based Awards | The weighted average assumptions used in the Black-Scholes option pricing model to determine the fair value of share-based awards granted to employees during the nine months ended September 30, 2022 and 2021, respectively, were as follows:
|  | 2022 |  | 2021
Expected stock price volatility |  | 87.02% |  | 97.50%
Risk-free interest rate |  | 2.17% |  | 1.03%
Expected term (in years) |  | 5.95 |  | 5.77
Expected dividend yield |  | — |  | —
Schedule of Share-Based Award Activity | The following table summarizes the share-based award activity for the periods presented:
| Number of Options |  | Weighted Average Exercise Price Per Share |  | Weighted Average Remaining Contractual Term (years)
Outstanding at January 1, 2022 | 506,691 |  | $ | 5.68 |  |  | 9.3
Granted | 890,058 |  | $ | 1.85 |  |  |
Forfeited | (55,245) |  | $ | 2.52 |  |  |
Outstanding at September 30, 2022 | 1,341,504 |  | $ | 3.27 |  |  | 9.1
Vested and exercisable at September 30, 2022 | 275,061 |  | $ | 5.90 |  |  | 8.5
Vested and expected to vest at September 30, 2022 | 1,341,504 |  | $ | 3.27 |  |  | 9.1

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- Definition Tabular disclosure of allocation of amount expensed and capitalized for award under share-based payment arrangement to statement of income or comprehensive income and statement of financial position. Includes, but is not limited to, corresponding line item in financial statement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(1) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (e) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (f)(2) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
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